Citi Downgrades Ecopetrol Due to Structural Decline in Oil Production
Citigroup downgraded Ecopetrol (EC) from Buy/High Risk to Neutral/High Risk with a $18 price target, citing structural declines in Colombia's oil and gas production since 2015. The downgrade reflects concerns over political risk and long-term output trends.
Tickers: $EC
Topics: Colombia oil stock downgrade